ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Shares Sold by Sectoral Asset Management Inc.

Sectoral Asset Management Inc. reduced its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRYFree Report) by 66.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 354,641 shares of the company’s stock after selling 694,550 shares during the quarter. Sectoral Asset Management Inc. owned approximately 0.37% of ARS Pharmaceuticals worth $1,943,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. RA Capital Management L.P. grew its holdings in ARS Pharmaceuticals by 214.3% in the 3rd quarter. RA Capital Management L.P. now owns 9,459,678 shares of the company’s stock worth $35,758,000 after buying an additional 6,450,000 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of ARS Pharmaceuticals by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock valued at $22,460,000 after buying an additional 229,988 shares in the last quarter. Denali Advisors LLC bought a new position in shares of ARS Pharmaceuticals in the fourth quarter valued at $480,000. Bank of New York Mellon Corp boosted its stake in shares of ARS Pharmaceuticals by 9.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 83,924 shares of the company’s stock worth $317,000 after acquiring an additional 7,024 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. acquired a new position in shares of ARS Pharmaceuticals in the 3rd quarter worth $136,000. Institutional investors own 68.16% of the company’s stock.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, Director Ra Capital Management, L.P. acquired 505,954 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were acquired at an average cost of $9.79 per share, for a total transaction of $4,953,289.66. Following the completion of the purchase, the director now owns 9,958,073 shares of the company’s stock, valued at approximately $97,489,534.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Sarina Tanimoto sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $9.28, for a total value of $928,000.00. Following the sale, the insider now directly owns 1,647,447 shares in the company, valued at approximately $15,288,308.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ra Capital Management, L.P. acquired 505,954 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was acquired at an average price of $9.79 per share, with a total value of $4,953,289.66. Following the transaction, the director now owns 9,958,073 shares in the company, valued at approximately $97,489,534.67. The disclosure for this purchase can be found here. Insiders sold a total of 600,000 shares of company stock valued at $5,520,743 in the last quarter. Insiders own 40.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SPRY shares. William Blair raised shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 20th. SVB Leerink raised shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $6.00 to $18.00 in a research note on Tuesday, March 5th. Wedbush reiterated an “outperform” rating and set a $19.00 price objective on shares of ARS Pharmaceuticals in a report on Monday, March 11th. Finally, Leerink Partnrs upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 5th.

Read Our Latest Report on SPRY

ARS Pharmaceuticals Stock Performance

Shares of SPRY traded down $0.01 during trading hours on Friday, hitting $8.81. 308,762 shares of the company were exchanged, compared to its average volume of 344,032. The company has a market cap of $853.60 million, a PE ratio of -16.94 and a beta of 0.88. The firm’s 50 day moving average is $9.04 and its 200-day moving average is $7.49. ARS Pharmaceuticals, Inc. has a 52 week low of $2.55 and a 52 week high of $11.27.

ARS Pharmaceuticals (NASDAQ:SPRYGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). As a group, equities analysts forecast that ARS Pharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

About ARS Pharmaceuticals

(Free Report)

ARS Pharmaceuticals, Inc, a biopharmaceutical company, develops treatments for severe allergic reactions. The company is developing neffy, a needle-free and low-dose intranasal epinephrine nasal spray for the emergency treatment of Type I allergic reactions, including anaphylaxis. It serves healthcare professionals, patients, and caregivers.

See Also

Institutional Ownership by Quarter for ARS Pharmaceuticals (NASDAQ:SPRY)

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